Corporate objectives are those that relate to the business as a whole. They are usually set by the top management of the business and they provide the focus for setting more detailed objectives for the main functional activities of the business.
This can be illustrated as follows:
Corporate objectives tend to focus on the desired performance and results of the business. It is important that corporate objectives cover a range of key areas where the business wants to achieve results rather than focusing on a single objective.
Peter Drucker suggested that corporate objectives should cover eight key areas:
|Market standing||Market share, customer satisfaction, product range|
|Innovation||New products, better processes, using technology|
|Productivity||Optimum use of resources, focus on core activities|
|Physical & financial resources||Factories, business locations, finance, supplies|
|Profitability||Level of profit, rates of return on investment|
|Management||Management structure; promotion & development|
|Employees||Organisational structure; employee relations|
|Public responsibility||Compliance with laws; social and ethical behaviour|
We'll use this Series to curate resources that support teachers and students preparing for the BUSS4 Section A Research Theme on Manufacturing in the UK (June 2015). These resources will complement our popular BUSS4 Section A Toolkit on Manufacturing and the BUSS4 Exam Coaching Workshops which also include sessions on Manufacturing.
This resource comprises a complete collection of editable lesson topic worksheets and exam-style case studies that are ideal for teaching individual topics for the whole Year 1 (AS) teaching content. Each lesson topic worksheet and case study has a consistent, clear and professional format and maps precisely to the specification teaching content.